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$SPY MARKET BREAKDOWN - (June 13)SPY Market Breakdown - Weekend of June 13th Keeping this chart clean and simple, with the only technicals being simple S&R levels as well as my own Easy Loot indicator I created yesterday With the impending second wave of beer virus, the stonks markets are looking for another decent correction This being said, the marked out accumulation zone (green) on my chart at 272 - 286 is my buy zone AFTER I see clear indication of a trend reversal Right now it wouldn't be smart to go long, although it does seem like market is holding out at our known accumulation zone of 302 -308 What to expect on Monday? Scenario 1 Price continues holding at 302 - 308 right along the higher accumulation zone and stays flat going into next week Scenario 2 Price starts to fall and sell targets are placed going short , 1st TP @ 294, 2nd TP @ 286 From there we will re-evaluate the market and decide on our next entry either long or short, who knows? corona could come back all of a sudden and our bias completely changes Don't trade against the patterns of the market, you're going to get humbled. As always please do your own research, I am not a financial advisor.
AMEX:SPY
by kyer
9
Support is at 280 ish SPY SPXThe 14% pullback projection seen in the above is derived from the ratio of change seen in 2018. This thesis is based on the following: If 2018 was the beginning of a megaphone type corrective move, then the % change will be of greater magnitude; however, the ratio's expressed as % change should be statistically similar. During the corrective moves in 2018, we saw; first, a 20% decline followed by a 25% rally followed by a 7% retracement. Today, we have experienced a 35% decline, followed by a 47.5% rally. Is there going to be a Pull Back? Yes, we have seen that this week. How large of a pullback from recent highs will it be? My expectation; 14%. 20% to 35% is a ratio of 1.75, while 25% to 47.5% is a ratio of 1.85. So, if this corrective move is in similar terms to what happened in 2018 in terms of MATH, then I expect a total pullback of around 13.7% - 14.85% from recent highs. Will we retest lows? No, I do not believe so. 14% off of recent highs is around 282 - 280. Coincidentally, this is right near the 700sma red line. Please note this will probably happen after quadruple witching next week. *Just some guy/girl/they 's thoughts* Cheers -Andimolz //Logic Reference slow_sma = sma(src, 700) fast_sma = sma(src, 14) standard_sma = sma(src, 90) //slow_ema = ema(src, 700) //fast_ema = ema(src, 14) standard_ema = ema(src, 90)
SP:SPX
by Andimolz_
$ES, $SPY, $SPX headed to 2500. Q2 Earnings Pending,First, consider a fib retracement. We bounced back to the top fib retracement .236, and thats where we topped with a heavy head and shoulders patterned that crashed markets today. We might see a bounce and recovery soon, but I think this kicks of wave C of the correction wave, heading down now until the end of q2, where we start to see recovery happen in q3 and q4. This is a prediction and anything can happen. I expect Spy to hit 2500 or the .786 Retracement level.
CME_MINI:ES1!Short
by aashavmehta99